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5 min

When can you choose a B2B panel provider for a research project?

A debrief on the instances where you can choose a b2b panel provider for research purposes

GrapeData
Nov 1, 2022
B2B market research

Introduction

The days when market research used to be done only by sitting with consumers and discussing their needs are long gone. Today, IoT and AI have changed everything, as we can access almost anything with these technologies. It is often said that the best way to find out what people really want is by asking them directly. This has been proven true time and again in various studies over the years. However, if you want your results to be accurate then there’s nothing better than a b2b panel provider who can provide you with real-time data from their own database of individuals.

You must be wondering why a b2b panel provider is important for a research project

If you are a marketer or a research company, then you must be wondering why a b2b panel provider is important for your research project. The answer is simple:

  • B2B panels allow you to get information about business decision-makers in an organization. This gives you a chance to understand what concerns are central to their operations. In addition, they help you understand how these concerns affect their decision-making process.
  • You can also use these panels as tools for creating strategies that will help your target audience make better buying decisions.
  • B2B panels give marketers access to customer insights that can help them create more effective marketing campaigns. Additionally, they can help improve their customer retention rates as well.

You can use a b2b panel for screening your potential respondents before the survey, where you filter respondents based on their demographic information

A b2b panel provider can be used for screening, which is a process that's used to find only relevant respondents for your research project.

But first, let’s start with the meaning of screening b2b survey respondents. Screening questions are typically used in surveys to separate respondents from one another. These questions are used to pick only those that fit a certain profile. In this way, data points can be drawn from these specific respondents. There are four types of screening questions most popular with b2b panel providers. 

First, there are demographic screening questions that are the most common.  Questions of this type can include a wide range of topics. Some of these include age, gender, occupation, location, economic background, and annual income. Second, we have industry-specific questions. Sometimes, people who work in or are close to a certain industry may be biased in their answers. For example, consider that you are trying to analyse how people feel about Cryptocurrency. In this case, it's a good idea to include people who have different levels of knowledge about crypto. A b2b panel provider can aid in this process of finding only relevant respondents for your survey project.

Let's imagine that you want to find out how your potential customers will use your product or service. You can start by using a b2b panel provider for this purpose because it is beneficial in many ways:

-You can get real-time data.

-The b2b panel is ready to use. All you need to do is to create a survey and send it out.

-You will get an opportunity to reach out to a large number of potential respondents.

-The panel can be used for screening, where you analyse the conditions of their business and try to understand the business requirements. 

You can also use b2b panel providers for brand management studies

Brand management studies are another area where b2b panel providers can be helpful. You could use them to find out the role of decision-makers in businesses, or what their pressing concerns are. Brand loyalty surveys are a good way to get an idea of how well your customers buy from you. Additionally, you can also find out what they think about you as a brand.

Another instance that b2b panels can help with is gathering opinions about a certain industry or area of business activity. For example, say that you wanted to find out how many men between 30-45 years old live in Wisconsin and have access to the internet. 

A panel provider can help you get respondents much faster than other ways of market research

It is also necessary to understand that a panel provider can help you get your samples much faster than other ways of market research. This means that you are able to make important decisions about your business much more quickly. You can even find out what the public wants if you are launching a new product or service.

The speed at which they can do this will depend on their size. It will also depend on how well they have done their research into the industry they are working in. The larger the company and the more resources available, the quicker they will be able to complete their task for you.

B2B panels are also very helpful in understanding the role of decision-makers in a business

One of the most important roles of a b2b panel provider is to determine the role of decision-makers in a business. A b2b panel can help you understand this vital piece of information and use it to your advantage. You can learn about how people make decisions, and what influences them.  In addition, you can also learn how to reach them at the right time with their peers or superiors. This type of insight is invaluable for any brand looking to grow sales or retain customers by improving marketing strategies. For the best free marketing strategies in 2022, check out this post by the Entrepreneur.

If you want to know your customers better and make your products more responsive to their needs, then you must understand what their concerns are

Another instance where a b2b panel provider can help is knowing what your customers feel about your products. These concerns can be divided into three categories:

  • Functional requirements
  • Offering quality
  • Price

All three of these are important, but we’ll focus on the price aspect for now. Price is an essential concern for most customers. They want to know how much something costs and what they can get for their money. If you have a high price point and no real differentiation, customers will go elsewhere. If you have a low price point and no real value, then they’ll also go somewhere else. But what if you can offer both? What if your customers get the best of both worlds? These are questions that a b2b panel provider can help you get answers to. 

In order to understand how well your demographic is mapping onto your target audience, it has become increasingly important to use b2b panels

Although the internet has made it easy for companies to collect data about users, many people are hesitant about providing information on their age, gender, and location when filling out surveys. 

This means that if you want to get reliable data from your target audience then you’re often left with two choices. One, you could hire an expert who knows exactly what kind of person they should be targeting (and therefore what questions need asking). Or, you could use a specialised panel provider that can provide access to pre-vetted respondents who fit certain demographics. For instance, these characteristics could be based on previous purchase history and preferences. This is so that everyone involved knows exactly what type of response they should expect when sending out surveys or creating focus groups online.

It is also necessary that you know who your competition is so that you can adjust your strategy accordingly and remain one step ahead

This information comes in handy at the time of launching a new product or service, or when a company needs to do market research on its competitors. The business might want to know how its products stack up against those offered by other companies. Alternatively, they might want to analyse their strengths, weaknesses, and what they need to do in order to stay ahead in the game.

More often than not, brand loyalty surveys are the best way to find out what your customers think about you

If your goal is to measure how well your customers buy from you and what they think about you as a brand, then brand loyalty surveys are the best way to do this. Brand loyalty surveys can help you identify the extent to which your customers are satisfied with their experiences with your company. Plus, if they are satisfied, then it’s likely that they will continue purchasing from you in the future.

For example, let’s say that our hypothetical customer is not happy because he has had trouble getting his account set up using a website. This could result in him leaving negative reviews on Trustpilot or Yelp. This, in turn, would cause other people who were considering buying products from you to question whether or not they should use you. However, surveys can be a good tool to measure brand satisfaction and therefore analyse what can be done to improve your products. For a guide on brand management studies, check out this article here

These are some critical reasons why you should opt for a b2b panel provider in order to complete your research project

A b2b panel provider is a tool that helps you find the right kind of people for your research project. A well-selected panel provider will make sure that all the participants are qualified and ready to take part in the study itself. The first step to choosing a panel provider would be deciding what exactly you want from it. Do you need access to certain demographics? Do you want certain types of people who fit into your target audience? Once these questions have been answered, then it becomes easier for us at GrapeData to help you get the actionable insights you need.

Conclusion

It is important that you choose the right b2b panel provider for your research. You should carefully analyse their services, whether they are reliable or not, and how much they charge for their services. It is also necessary that you know what kind of sample size will be required to conduct your research survey so that you do not end up wasting resources. For more on a b2b panel provider, check out our recent blog post.